Netflix cuts deal with Comcast to speed up service

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Netflix said Sunday it has agreed to pay Comcast an undisclosed amount of money to ensure that its movies and TV shows stream more quickly for the Internet provider's customers.

The stunning agreement could usher in a new era in video streaming, with greater control by broadband Internet providers in dictating the technological and monetary terms in deals with content suppliers.

Calling it 'a mutually beneficial' agreement, the companies said the deal will provide Comcast broadband customers 'a high-quality Netflix video experience for years to come.'

'The companies have established a more direct connection between Netflix and Comcast, similar to other networks, that's already delivering an even better user experience to consumers, while also allowing for future growth in Netflix traffic,' the companies' statement said. 'Netflix receives no preferential network treatment under the multi-year agreement.'

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